R&D will make SK On 'global leading company,' CEO says

SK On's CEO emphasized R&D for a competitive edge in the EV battery market at the SK Innovation Global Forum.

SK On CEO Lee Seok-hee speaks at the SK Innovation Global Forum in San Jose, California, on Saturday. [SK ON]

The CEO of SK On, an EV battery affiliate under SK Group, vowed to focus on research and development (R&D) in order to stay competitive in the growing, yet highly uncertain market.

“The key enabler of electrification is a battery,” CEO Lee Seok-hee said in his keynote at the SK Innovation Global Forum in San Jose, California, on Saturday. “Exceptional battery performance is the key to delivering customer satisfaction.”

SK Innovation Global Forum, first held in 2021, is a global conference wherein SK Innovation and its affiliates share business plans and outcomes. Lee Seong-jun, head of the firm's Institute of Environmental Science & Technology, as well as 10 executives from the company and its affiliates and 50 individuals from across the global energy industry and academia attended the event alongside CEO Lee.

The 2024 forum focused on the topics of secondary batteries, the management of thermal runaway in batteries, geological business and technology, carbon materials and open innovation.

“We are also expanding our R&D capabilities so that we have an R&D team in Boston, and we also have engineers here in the Silicon Valley. So not just the manufacturing, but also we are expanding our R&D here in the United States,” the CEO said.

“We want to be a global leading company powering for green,” the CEO said, mentioning the firm’s growth aspiration. “With all these customer relations and a very well-balanced manufacturing network, I think we are in a good position to realize that”

CEO Lee also mentioned the company's plans to diversify its chemistry and form factor portfolios, referring to battery form factors including SK On's high-nickel, medium-nickel and Cell-To-Pack technologies.

Regarding the outlook for the EV market, he struck an optimistic note.

“We are entering the phase of chasm following exponential growth, but I can tell you that the momentum will be sustained in the mid to long term because it's really certain destiny. So, at this point, we have to cross this chasm before entering the mass market,” the CEO said.

“The trend toward clean technology is inevitable.”

BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]